A c t i o n P l a n 2 0 1 4 - 1 5
Moving Towards New Frontiers
The Institute of Chartered Accountants of India
(Set up by an Act of Parliament)
Action Plan - 2014-15
The Institute of Chartered Accountants of India
The Institute of Chartered
Accountants of India
The Institute of Chartered Accountants of India (ICAI) is a statutory body established
under the Chartered Accountants Act, 1949 for the regulation of the profession of
Chartered Accountants in India. The ICAI has achieved recognition as the premier
Accounting body in India and second largest accounting body in the world.
Vision:
ICAI aims at harnessing the opportunities and addressing the challenges
presented by the rapidly changing environment so that by 2030, ICAI
becomes: World's leading accounting body, a regulator and developer of
trusted and independent professionals with world class competencies in
accounting, assurance, taxation, finance and business advisory services.
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Action Plan 2014-15
CA. K. Raghu
President, ICAI
Moving Towards New Frontiers
We will move towards new frontiers through securing better professional opportunities
and avenues for our members in practice and industry, and empowering them with
cutting-edge technology that will enable us to create a formidable and robust future
for the profession. Empowerment of women members and attending to the need of
generation next accountants will be one of our primary concerns.
Promoting transparency and ethics will be our constant enterprise and we shall continue
playing critical role in the core domain of Standard Setting, Financial Reporting,
Auditing, Corporate Governance and alike. We will adopt global best practices for the
examination and education standards and thoroughly strive to increase the quotient of
trust and transparency in our profession.
Areas of Strategic Focus
1. Leadership and Influence
Areas of Strategic Focus
2. Global Recognition
3. Members in Industry
4. Members in Practice
5. Women Empowerment
6. Young Members Empowerment
7. Students Initiatives
8. Technology Initiatives
9. Infrastructure and Governance
10. Branding and Capacity Building
11. Member Support and Benefits
12. Research Initiatives
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Action Plan - 2014-15
The Institute of Chartered Accountants of India
Areas of Strategic Focus:
Leadership and
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Influence
» Playing a greater role in nation-building and public participation.
» Propelling the profession's interest by gaining public confidence.
» Supporting the government in effective implementation of the Companies
Act, 2013.
» Forming a politically neutral group to promote a dialogue between the
Parliament, business and accountancy profession on issues of economic
importance.
» Collaborating with institutions of national importance to formulate successful
strategies for various projects launched by the government.
» Coordinating effectively with the government departments, central and state PSUs for
compulsory adoption of double entry system of accounting.
» Collaborating with global standards setters and regulators for positioning the ICAI in more
proactive role in international standards-setting process.
» Leading the initiative to communicate the benefits of IFRS convergence in a holistic manner
and building a nationwide commitment and consensus among key stakeholders.
» Upholding the disciplined and ethical professional conduct.
» Making the Peer Review and Quality Review processes more effective to encourage the
members to demonstrate the highest standard of ethics.
» Strengthening the regulatory regime so as to uphold the fundamental edifice for which the
Institution has been set up.
Global
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Recognition
» Promoting the ICAI's qualification abroad by reciprocal recognition through potentially
important accountancy jurisdictions.
» Developing interface and communication channels with multilateral forums including
global standard-setters for twinning arrangements on technical cooperation, standard-
setting and rechannelling thought leadership to reflect the Indian perspective.
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» Strengthening the existing foreign chapters and opening up
new chapters of ICAI in the countries of strategic importance to
India.
» Promoting opportunities abroad for the benefit of membership.
» Promoting training for accountancy professionals in the
developing and underdeveloped economies.
» Extending technical cooperation to emerging and least-
developed economies, with a focus on Middle East and African
nations.
» Playing a proactive role at global forums like IFAC/ SAFA/
CAPA / IIN to espouse special and differential needs of Indian
membership.
» Promoting knowledge management by association with
the relevant international organizations in emerging and
niche areas and paving way for augmenting and facilitating
multilateral networking, B2B and B2C by building a resource
framework through intra country resource sharing.
» Providing technical support constantly to accountancy bodies in
the SAARC region.
» Promoting the ICAI qualification among the overseas citizens of
India.
» Strengthening interface between the Institute and the members
abroad in order to provide more and better services to them
and take their inputs for external reach of the Indian accounting
profession.
MeMbers
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in industrY
» Creating a full-fledged Placement Cell to provide
continuous career development of members in industry
seeking employment.
» Institutionalizing interface with members-in-Industry in
standard-setting process.
» Organizing programmes on contemporary topics
on a regular basis for the senior officials of PSUs,
multinational companies.
» Collaborating with the reputed Institutions to promote
research among the working executives.
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Action Plan - 2014-15
The Institute of Chartered Accountants of India
» Undertaking steps to enhance participation of companies in Campus Placement.
» Organising special training programs to facilitate members to switch over from employment
to practice.
» Opening more CPE study circles for members-in-industry.
» Organizing nationwide outreach programmes in industries and webinars and e-learning
courses for members-in-industry.
» Exploring tie-ups with reputed institutions for executive development programmes to develop
managerial skills for senior positions.
» Taking steps to enhance employment opportunities for Chartered Accountants in Government
Departments and PSUs.
Members in
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Practice
» Introducing new certificate courses to equip our
members to venture into new and emerging areas of
practice.
» Identifying and addressing the new facets of audit
emerging from the Companies Act, 2013 ­ internal
control framework, risk management, fraud
detection, internal audit and rotation of audit.
» Studying the global best practices to align the ICAI
practices as per the emerging imperatives.
» Setting up a special cell to promote mergers and
networking with the Indian and international
accounting firms in terms of Networking Guidelines.
» Identify countries with significant opportunities for
the ICAI members to provide professional services
and developing opportunity assessment report of
these countries for creating awareness amongst the
members.
» Organising special training for the members
encompassing international rules, regulations and
practices followed in jurisdictions of special interest.
» Developing SMP kit including practice manual for
audit compliance.
» Promoting development of IT-based tools for
managing the professional practice.
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Women
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Empowerment
» Organising specialised training programmes for women members to prepare them for the role
of women directors in companies.
» Creating a panel of women members to act as
independent directors in companies.
» Promoting flexi working hours for women members
through a dedicated women portal.
» Launching leadership programmes for women in
Women Empowerment
finance and business.
» Introducing ICAI Women Achiever's Award to
acknowledge and honour the accomplishments and
contributions by women members.
Young Members
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Empowerment
» Introducing ICAI Youngest CFO Award.
» Undertaking initiatives to assist young professionals in setting up
new firms.
» Introducing mentorship programmes for hand-holding the young
CAs.
» Enabling members engagement with the ICAI via digital media.
» Facilitating outsourcing opportunities in accounting, auditing,
management consultancy services and alike.
StudentS
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Initiatives
» Introducing course curriculum and examination system dedicated more towards analytical
reasoning and qualitative assessment.
» Creating sustainability and perpetuity in the examination evaluation process.
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Action Plan - 2014-15
The Institute of Chartered Accountants of India
» Launching Articleship Training Portal- One Stop
Solution for all training requirements.
» Reviewing the course curriculum to meet the changing
needs of society.
» Making training framework more focused on practical
learning.
» Reviewing training entitlement of members and
considering whether it should be based on the efflux
of time or quantum of work.
» Organizing capacity-building programmes for firms to impart articleship training to provide
guidance in methodology and mechanism to make the training more effective.
» Increasing the number of examination centres.
» Making examinations more practical with more case studies and practical problems.
» Introducing Cloud Campus a next generation interactive learning management system for
students.
» Conducting student exchange programmes to share knowledge with the international
institutions.
» Introducing e-diary for students.
» Introducing soft skill courses as part of e-learning.
» Setting up a single window system for enquiry, availability of application forms and
confirmation on application status.
» Making provision for online submission of application forms for students.
Technology
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Initiatives
» Setting up ICAI Global Technology Centre.
» Establishing ICAI Knowledge Gateway with specialized knowledge under one roof.
» Introducing advanced ITT hi-tech labs to provide training to our students.
» Engaging members via social media.
» Providing service interface through the Mobile-App of ICAI.
» Making website more interactive and user-friendly.
» Launching Online Store of ICAI.
» Converting ICAI publications into e-books.
» Expanding web-enabled services for regulatory and other requirements.
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infrastructure
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and GoVernance
» Building an organizational structure that will
embrace and drive challenges and results
across levels.
» Implementing good corporate governance in
the Institute's affairs to meet the expectation
gap of varied stakeholders.
» Implementing the best HR practices to
attract and retain capable, passionate and
committed employees.
» Developing a succession plan for key management roles.
» Opening 100 reading rooms and e-libraries across the nation to provide better infrastructure
facilities to our students.
» Expanding infrastructure to provide improved services to members and students by opening
new centres of excellence and branch buildings.
brandinG and
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capacitY - buiLdinG
» Driving the campaign of global Indian Chartered
Accountant brand by highlighting the vital role
that Chartered Accountants play in the global
economy.
» Promoting core strengths and the values, which
the profession provides to the industry and
nation's economy in national and international
brand-building initiatives.
» Launching welcome kits to facilitate members to leverage Global Opportunities.
» Augmenting the ICAI profile and Indian accountancy profession at forums and platforms of
international accountancy institutions.
» Launching focused CPD programmes for specific knowledge-domains, specific demographic
segments and meeting the aims and aspirations of those in employment/ practice on a
standalone basis.
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Action Plan - 2014-15
The Institute of Chartered Accountants of India
MeMber support
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and benefits
» Introducing Member Benefits, a privilege
program to provide easy access to special
products and services.
» Making online provision for member
Member Support support services.
» Launching national help-line for guidance
and assistance to the members.
» Upgrading the Grievance Management
System.
research initiatiVes
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» Working with leading universities and
institutions to encourage doctorate
programmes in accounting, assurance,
taxation, finance and business management
among the ICAI members.
» Encouraging research by appointment of
full-time researchers in the area of taxation,
finance and other allied areas of business
management.
» Bringing out sector-specific research
publications to provide better insight into the
complex issues faced by the businesses today.
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CONNECT
Head Office : Eastern Region
The Institute of Chartered Accountants of India ICAI Bhawan, 7, Anandilal Poddar Sarani,
ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, Russell Street, KOLKATA ­ 700 071
NEW DELHI ­ 110 002 Tel: (033) 39893989
Tel: (011) 39893989 Email: ero@icai.in
Email: icaiho@icai.in Website: www.eircicai.org
ICAI Bhawan, C-1, Sector 1, Central Region
.)
NOIDA - 201 301, Dist. Gautam Budh Nagar, (U.P ICAI Bhawan, 16/77-B, Civil Lines,
Tel: (120) 3989398 KANPUR ­ 208 001
Tel: (0512) 3989398
ICAI Bhawan, A-29, Sector 62 Email: cro@icai.in
.)
NOIDA - 201 309, Dist. Gautam Budh Nagar, (U.P Website: www.circ-icai.org
Tel: (120) 3045900
Northern Region
Western Region ICAI Bhawan, 52, 53 & 54, Institutional Area,
ICAI Tower, Plot No C-40, G Block Vishwas Nagar, Shahdara,
Bandra Kurla Complex, Bandra (East) DELHI ­ 110 032
Mumbai - 400 051 Tel: (011) 39893990
Tel: (022) 33671400/33671500 Email: nro@icai.in
Email: wro@icai.in Website: www.nirc-icai.org
Website: www.wirc-icai.org
Southern Region
ICAI Bhawan, 122, Mahatma Gandhi Road, Post Box
No. 3314 Nungambakkam, CHENNAI ­ 600 034
Tel: (044) 30210356
Email: sro@icai.in
Website: www.sircoficai.org
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The Institute of Chartered Accountants of India
(Set up by an Act of Parliament)
Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002
www.icai.org